Articles specifically discussing Chapter 13 bankruptcy cases filed in Texas.
When a debtor files bankruptcy an automatic stay goes into effect. This stay is like a federal injunction preventing creditors from collecting debt from the debtor or taking action against his assets. The stay continues to protect the debtor until… Continue Reading
In Chapter 13 bankruptcy debtors file a plan proposing to reorganize their debts. The plan basically says that the debtor intends to pay the creditors (or not pay them) and may change the way in which they are paid as… Continue Reading
For the most part, Chapter 13 bankruptcy doesn’t have to affect the filer’s life very much, apart from having to make payments each month to a trustee. However, there is one limitation on Chapter 13 debtors. They cannot incur new… Continue Reading
Disposable income in above-median Chapter 13 cases is calculated using a means test. Debtors list all of their income for the last six months, excluding any funds paid to them by the Social Security Administration. Next, we calculate the deductions… Continue Reading
Chapter 13 bankruptcy is about reorganizing debt. Claims listed in the reorganization plan are treated differently depending on their class. For example, secured claims will either be paid through the plan by the trustee, paid directly by the debtor, or… Continue Reading